Dividend stocks are the cornerstone of many well-run retirement portfolios -- that's a fact. The reason is that dividend stocks act as a beacon to investors, inviting them to take a deeper look into a company whose business model is so sound it can pay out a percentage of its annual profits on a regular basis to its investors. Even more so, dividends can provide a downside hedge in volatile and bear markets. Investors in dividend stocks tend to be more long-term oriented, which usually means far less day-trading and less volatility.
Lastly, dividends can be reinvested, giving the buyer a chance to really compound gains over the long run. These payouts can mean the difference between simply retiring and retiring the way you've always dreamed. With that in mind, let's have a look at three cheap dividend stocks you can consider buying right now: AbbVie (NYSE: ABBV), Orange (NYSE: ORAN) and Valero Energy (NYSE: VLO).